Wed | Aug 23, 2017

Former Century National Bank boss threatens probe into sale of assets owned by him, family

Published:Sunday | July 9, 2017 | 7:03 PM
Don Crawford

Former chairman of the collapsed Century National Bank, Don Crawford, is threatening to initiate an international investigation into the sale of properties owned by him, members of his family and others by the Financial Sector Adjustment Company (FINSAC).

In a release issued today, Crawford accused FINSAC of selling the properties to "persons of choice".

Crawford, who now resides in Georgia, says he will also be making an announcement about, what he says, are several other critical irregularities that amount to several billion US dollars.  

He says he has already notified several persons in the current Government and former People's National Party Government which took over the Century financial institutions in 1996.

A long legal battle ensued and in 2005, the United Kingdom Privy Council upheld the local courts' ruling that the bank and its subsidiaries should pay $4 billion in loans and interest to the government-owned Financial Institutions Services Limited, which was subsequently taken over by the FINSAC.